For managed care organizations (MCOs), growth, member satisfaction, and profitability are inextricably linked. But healthcare payers struggle to grow when 10% to 25% of their members voluntarily disenroll each year. Payers must streamline churn reduction so they can focus on building and expanding their member base instead.
Thanks to modern customer relationship management (CRM) software like Salesforce, MCOs now have the data and tools to analyze churn, understand why members disenroll, observe behavior at scale, and take action. At AArete, we equip payer organizations with fresh member retention strategies and tools that maximize profitability and productivity and improve quality of care.
The Right Strategy for the Right Member Journey
Backed by in-depth market intelligence from robust healthcare data, AArete supports payer growth by helping clients unlock data from their CRM, analyze churn, and retain membership. Not only does this process contribute to business growth, but it also helps manage care, drive positive health outcomes, and connect each individual member to the right journey.
AArete delivers a proven four-phase methodology to drive member growth and retention, boost profitability, and improve member experiences.
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Understand Member Behavior
To drive retention and growth, MCOs must leverage one of their most powerful resources: existing member data. Many organizations struggle to glean insights and act on the data they have. We start with a review and analysis to capture interaction points, understand member journeys, and identify common churn factors.
Leverage Member Churn Analytics
Member behavioral data often reveals leading indicators of potential churn, from lack of engagement to benefit confusion. MCOs must analyze the entire journey to learn where members typically drop off, what’s missing from the relationship, and what steps they can take to improve the relationship. A CRM maps out this journey on the front end, while AArete’s consultants analyze churn analytics and identify clear next steps.
Develop Member Retention Strategy
After identifying risks and areas for improvement in the member journey, we partner with MCOs to create a member retention plan. Payers’ retention strategies often include ensuring members’ awareness of and access to resources, personalized outreach based on unique member needs, and timely, relevant communication.
Integrate Tech and Automation
With a plan to reach and retain members, MCOs are ready to execute their strategy and optimize their processes. AArete helps clients streamline member engagement and focus their outreach strategies with AI-enabled and automated workflows, proactive retention efforts during pivotal moments, and implementation of a unified engagement platform that provides a single source of truth.
Let’s Talk
Churn reduction and member retention are critical to the profitability of your MCO. If you’re ready to build a strategy to optimize revenue and member care, get in touch with us.
